Established under the Mining and Minerals Act of 2022, the Uganda National Mining Company (UNMC) is a state-owned enterprise formed to manage the Government of Uganda’s commercial holding and participating interests across the mining sector. UNMC ensures that the country retains optimal value from its vast reserves of critical and industrial minerals.
Under the joint oversight of the Ministry of Energy and Mineral Development (51%) and the Ministry of Finance, Planning, and Economic Development (49%), UNMC serves as a commercial partner to private investors, state equity manager, and catalyst for local mineral beneficiation.
Core Functions and Strategic Objectives
State Equity Participation: Managing the Government's statutory commercial interests, including the carried interest in medium and large-scale mining operations.
Joint Ventures & Strategic Partnerships: Partnering with domestic and international private-sector companies to execute exploration, mining, and processing projects.
Value Addition & Beneficiation: Driving local processing and downstream refining of raw minerals to maximize revenue generation and support national industrialization goals.
Resource Exploration: Leading exploration initiatives in strategic mineral projects, particularly where private entities face higher market entry barriers.
Infrastructure & Value Chain Growth: Developing and operating essential infrastructure across the mineral value chain to support efficient extraction and transport.
Socioeconomic Impact
By prioritizing national participation, local content enforcement, and ethical extraction standards, UNMC acts as a driver for broader national growth. Through strategic investments and partnerships, the company works to generate sustainable revenues, upskill local professionals, and foster long-term industrialization across the region.
